Market Reaction to Fed Chair Nominee: The DXY rose following President Trump's announcement of the Fed Chair nominee, while the Hong Kong stock market experienced significant declines, with the HSI dropping 498 points or 1.8% by the morning session's close.

Gold and Mining Stocks Performance: Gold prices fell over 3%, leading to substantial losses in mining stocks such as SD GOLD and ZIJIN GOLD, which plunged 12.9% and 10% respectively, alongside other mining companies experiencing similar declines.

Pharmaceutical Sector Developments: CSPC PHARMA's stock plummeted 12.5% despite a partnership with AstraZeneca for drug development, which included an upfront payment exceeding HKD9.3 billion.

Corporate News and Market Rumors: The Panama Supreme Court ruled contracts for two local ports unconstitutional, negatively impacting CKH HOLDINGS, while rumors of a potential ownership change at NEW WORLD DEV led to a 3.7% increase in its stock price.

Gold Price Decline: Gold prices have retreated from historical peaks, with spot gold down 4% to USD5,159.07 per ounce, and gold futures for February delivery falling 3.45% to USD5,134.8 per ounce.

Impact on Gold Miners: HK-listed gold miners experienced significant declines, with ZHAOJIN MINING down 9.65%, ZIJIN MINING down 8.8% after issuing USD1.5 billion in convertible bonds, and SD GOLD down 12.72%.

Short Selling Activity: There was notable short selling activity among gold stocks, with ratios exceeding 15% for several companies, indicating bearish sentiment among investors.

Market Outlook: Morgan Stanley suggests that gold prices have not peaked, with a potential bull case predicting prices could reach USD5,700 in the second half of the year.

Market Overview: The HSI opened 199 points lower at 27,627, with the HSCEI and HSTECH also experiencing declines of 60 points and 46 points, respectively.

Sands China Ltd Performance: Sands China Ltd saw a significant drop of 7.43% at open, despite a 16.4% YoY increase in net revenue for Q4 2025, as its adjusted property EBITDA fell short of forecasts.

Tech Stocks Movement: Major tech stocks like Tencent and Alibaba opened down by 1-1.4%, while Kuaishou saw a slight increase of 2.61%.

Gold and Mining Stocks: Gold and silver prices surged, leading to mixed performances among mining stocks, with some like SD Gold and Zhaojin Mining opening higher, while others like Chinagoldintl experienced a decline.

Market Reaction to Fed's Decision: The USD Index (DXY) fell to a nearly four-year low, contributing to spot gold prices exceeding USD5,200, with a peak at USD5,202 per ounce, while spot silver rose to USD113.4.

Hong Kong Stock Market Performance: The Hong Kong bourse opened higher, with the HSI gaining 198 points (0.7%) to reach 27,325, and several H-share gold miners, including ZIJIN MINING and SD GOLD, saw significant increases in their stock prices.

Short Selling Activity: Various gold mining stocks experienced notable short selling, with ZIJIN MINING and CHIFENG GOLD among those showing high short selling ratios, indicating investor caution or bearish sentiment.

Pre-Market Turnover Insights: Pre-market turnover for several gold mining stocks was substantial, with ZIJIN MINING and CHIFENG GOLD recording millions in turnover, reflecting active trading interest in the sector.

Production Guidance for 2026: CHINAGOLDINTL forecasts copper, gold, and silver production at its Jiama Mine to be between 140-149 million pounds, 70,700-75,600 ounces, and 4.18-4.82 million ounces, respectively, while total gold production at its CSH Mine is estimated between 70,700 and 83,600 ounces.

Combined Gold Production: The combined gold production guidance for both mines is projected to range from 141,500 to 159,100 ounces for the year.

Development Plans: The company aims to implement a development roadmap for the Jiama Mine and enhance resource utilization at the CSH Mine to ensure steady progress and sustainable returns for shareholders.

Market Activity: As of the latest data, CHINAGOLDINTL has a short selling amount of $155.74 million with a ratio of 11.734%.